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RICHMOND, VA – Newly released figures from Virginia Health Information (VHI), the agency that gathers and reports health care data in the Commonwealth, yet again confirm the fact that many local hospitals across the state continue to struggle financially.

The numbers show that 27 percent of Virginia’s acute care, critical access, and children’s hospitals, and more than 43 percent of rural hospitals, operated in the red during 2015.

Those figures indicate a slight increase from 2014 data showing roughly 25 percent of overall hospitals, and 42 percent of rural hospitals, with negative operating margins. Data from the past two years reflect the continuation of a pattern consistently evid

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A 0.5% increase in revenues for a 2009 recession year is something to crow about says Roanoke City’s Director of Finance, Ann Shawver. It wasn’t quite revenue but cost-savings and stingy expenditures that saved Roanoke City’s budget.

Shawver went over the ups and downs of the rocky 2009 fiscal year. Revenue collection came in under expectations at 98.7% of projections. It usually comes in ahead of projections said Shawver.

The real town-draft was a 28.6% reduction in permits, fees and licenses. Second to that was a reduction of 12.4% in investment and rental income. A few items came in slightly above projections like charges for services and general property tax.

The Budget Stabilization Reserve that Council member Court Rosen wanted to tap for schools is at $19.2 million or 7.45% of the General Fund budget. Rosen asked if it were time to increase the target of 8% to something more like 15%. Shawver agreed saying that as long as rating agencies see progress and growth in the fund the city’s AA bond rating should be safe. The “rainy day fund” has steadily increased from $15.6 million in 2005.

The undesignated fund balance leaped to a healthy $2.3 million entirely due to unspent expenditures.

The Enterprise Funds fell as expected. The Civic Center facility subsidy grew due to increased utility expense, transition to Spectrum, and economic conditions. The Market building lost lease space resulting in an increase in subsidy.

The parking garage comes in neutral – the best case scenario. Shawver expect more Enterprise funds to be added – an amphitheater fund, a golf course fund, and other projects.

The entire presentation will be available on the city’s website at roanokeva.gov.